FORENOON BETTER
 |
|
Inputs by
Dr.Bhuvanagiri Amaranatha Sastry
Astro Technical Analyst
Saketha Consultants, Hyderabad
sastry.saaketa@gmail.com
09848014561 |
Nifty continued its winning streak for 9th day in
a row and Nifty closes above 6750 mark. Stop loss for Nifty long positions may
be enhanced to 6660. Nifty spot is expected to encounter
resistance at 6790, 6825 and find support at 6715, 6680, for Thursday. While
Global cues and Funds flow
are expected to broadly guide the market movement, based on the present
market position , market can be expected to be generally better in the forenoon
and opening session is crucial / sensitive.
Nifty
Review for Wednesday :: Record High for Sensex and Nifty as Bank Stocks
Rebound… !!!
Nifty maintained its winning streak for the Nineth day in a
row and closed above 6750. 32 of Nifty stocks gained and broader market too was positive
with Advance Decline ratio placed
at 1.40:1. Barring FMCG and Metal indices, all other indices gained and notable
gainers include Bank, Realty, Media, Infra, Energy, Pharma. Reliance and ICICI contributed about 15 points to Nifty’s gain
while ITC, HDFC Bank dragged down by about 15 points.
Bank of Baroda, IDFC, PNB, Bharti, Tata Motors stood out as major gainers among Nifty
stocks while Asian Paints, Jindal Steel, ACC, ITC, SSLT remained major losers.
Orient Bank, Ranbaxy, Union Bank, Canara Bank, Uco Bank remained major gainers among F&O stocks
while Dabur, Asian Paints, ITC, Jindal Steel and ACC remained major losers among F&O stocks.
ANOTHER PEAK
The BSE benchmark Sensex today surpassed the
22,500-level to set a new closing high for the sixth day in succession
on the back of persistent foreign capital inflows and positive global
cues. The barometer opened the day on a stronger note and spurted
further to its all-time record of 22,592.10 intra-day, with realty,
refinery, healthcare, capital goods, power and consumer durable counters
attracting buying. The Sensex finally ended the day at life-time
closing high of 22,551.49, a rise of 105.05 points or 0.47 per cent from
its previous close. It had set new high levels at close in the previous
five days as well. The 50-share NSE Nifty gained 31.50 points or 0.47
per cent to finish at 6,752.55, after registering an all-time high of
6,763.50 intra-day. Foreign institutional investors (FIIs) continued
their buying spree as they bought shares worth a net Rs 385.66 crore
yesterday, as per provisional data from stock exchanges. "For yet
another session, markets were seen scaling to new heights on the back of
positive domestic cues. Clearance from the Election Commission for
announcement of new bank licenses to RBI before the outcome of general
elections triggered buying in financial space and later resumed by the
other banking counters as well," said Jayant Manglik, President, Retail
Distribution, Religare Securities. State-run SBI gained 2.06 per cent,
ICICI Bank 1.53 per cent and HDFC 1.09 per cent. Bharti Airtel at 3.34
per cent was the day's biggest gainer, followed by Tata Motor at 2.62
per cent. Cipla was 2.00 per cent, ONGC 1.96 per cent, Larsen 1.85 per
cent, RIL Ind 1.68 per cent,
ITC fell by 2.31 per cent, Hindalco 1.45 per cent, SSLT 1.41 per cent and HDFC Bank 1.02 per cent. IT stocks were also showcasing resilience against the backdrop of Rupee’s appreciation to eight month high level, Manglik said.
ITC fell by 2.31 per cent, Hindalco 1.45 per cent, SSLT 1.41 per cent and HDFC Bank 1.02 per cent. IT stocks were also showcasing resilience against the backdrop of Rupee’s appreciation to eight month high level, Manglik said.
No comments:
Post a Comment